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Great Bear Resources Ltd. GTBAF

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.


OTCQX:GTBAF - Post by User

Post by Goaweighon May 16, 2020 1:18pm
301 Views
Post# 31038040

I'm expecting an increase in drilling activity as soon as

I'm expecting an increase in drilling activity as soon as practicle. We had enough money to support 5 drills until well past year end and probably enough to cover the work to produce a preliminary resource report.
Now we have an extra $ 33 Million and more times than not when you raise large sums like this you are expected to give some idea of a " use of proceeds " . Some of the guys who put in this money may be very happy to just ride along and see what happens, this was an efficient way to get a position or add to a position and so maybe they don't really care about how the money is used, they expect the stock to go higher regardless. But I expect the majority will want the Co. to use the money to leverage the play, get more drills turning, drill off the 5000 meters of the LP as fast as possible by bringing back the 2 drills we had before, when we can, but also maybe bringing in a couple more drills, one maybe dedicated to going back to the Hinge/Limb and  another starting to do more exploration work along the LP, looking for more targets beyond the 5000 meters.
Maybe we build a sperate camp 10000 meters down the road and put 2 drills down there ! 
Regardless of exactly how those drills are used I'd be very surprised if we don't bring back the 2 drills we had before and almost equally surprised if we don't expand our activities by bringing in 2 more. 
That $ 33 Million isn't doing anything for anyone just sitting in a piggy bank collecting dust !
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